The most significant advantage of seeking early Credit Rehabilitation is to restore credit worthiness and become and active member of the economy.
Credit Bureau Clearance
All major National Credit Bureaus, Experian, Compuscan, TransUnion, XDS and Vericred, will remove the Sequestration Notice and mark all accounts as paid up. This will in turn improve the Credit Score allowing the individual that was previously sequestrated to become an active member of the economy again.
Credit Provider Clearance
All Credit Providers that formed part of the Sequestration Order are notified of the Credit Rehabilitation removing and updating internal systems so that the individual is not longer regarded as insolvent. This gives the individual the opportunity to apply for responsible credit again.
Improved Financial Prospect
For anyone facing serious debt problems, sequestration provides a debt solution that has written off all debt. Credit Rehabilitation in turn allows for the individual to start from a clean slate with no debt or any of the previous restrictions that the Sequestration Order put in place. The individual is now Credit worthy, can become a Director of a Company and obtain better insurance premiums and interest rates based on the restored Credit Score.
An Important Life Lesson
Going through the Sequestration process and becoming Rehabilitated has created the opportunity to learn from past mistakes. It has also taught an individual to live within their means from the income that they earn, free from the shackles of Credit. Once Rehabilitation occurs we trust that our clients have learnt a valuable lesson and go on to use Credit responsibly, making provision for an emergency fund, savings and investments.